By Lisa Calick, Carolyn Hall, Floriana Allen, and Laura Melville
The end of the year can be busy for many companies. While December brings holiday parties and end-of-year celebrations, business owners should be mindful to make sure their HR and payroll departments are on top of timely actions in order to ensure a smooth transition into the New Year. This checklist will help you get a jumpstart on your year-end planning.
Review your employees’ data to make sure...
By Joe Cicerone
Updated 7/29/2019. Your business needs help. No, that doesn’t mean you’re doing anything wrong — or more wrong than anyone else trying to independently run a business. But it would help to have an experienced CFO advisory group who could see your company’s challenges and opportunities from a fresh perspective.
That’s because the management team of young and growing companies tend to see what they’ve always seen. They only know the one way of looking at their...
By Carolyn Hall, CPA, MBA
Business owners with an entrepreneurial spirit welcome growth without necessarily focusing on the bottom line. MSO and DSO professionals who own and operate medical and dental service organizations that are experiencing patient gains and revenue growth can often lose sight of the details that go into back-end processes.
Your accounting system can be your first and most visible sign of trouble. When billing is slow or error-filled, processes are broken, locations...
What could be more intimidating to a business than the prospect of launching a new ecommerce website? Or merging with a competitor? Or implementing a new business process management software solution that will touch virtually every department in the company?
Lots of thoughts go through your head as you consider taking on a project that might take months or years, and will impact your company and your people for a long time to come.
Just think of the prospects of establishing goals,...
By Paul Ursich, CPA
Updated 7/29/2019. How do you grade the accomplishments of your Chief Financial Officer or Controller? Not only at review time, but whenever you’re thinking of the value this key management team member brings to your company. What are the key performance indicators, or KPIs, that really matter to you? Does your CFO or Controller know the KPIs that define success in your eyes? How could they know if you don’t?
Here’s what to do:
For starters, review the job description...
By Angelique Zitz, CPA
One of the most common causes of chronic problems in accounting departments is having the wrong people on board – or the right people in the wrong positions. In other words, things can go terribly wrong when the education, work experiences and career trajectories of your personnel do not match up with your expectations.
With that in mind, here are some of the ideal minimum requirements for business process optimization you should look for under most circumstances...
By Lisa Calick, SPHR
New Jersey lawmakers have overwhelmingly passed the Diane B. Allen Equal Pay Act, a comprehensive pay equity law that significantly strengthens employer requirements to provide equal pay for similar employment without regard to gender or other protected characteristics. Governor Phil Murphy, a strong proponent of equal pay, has stated he will sign the legislation, which would take effect on July 1, 2018. Once signed, New Jersey would have one of the broadest...
By Amos Gibello
You’re the owner of an engineering firm which you’re thinking of selling. Or maybe you’re trying to establish its worth in consideration of securing loans, partnerships, outside investors or a merger. Or you’d like to get a better handle on your net worth for estate purposes.
Whatever the reason, here are some of the leading factors to consider while estimating your firm’s value.
Revenue Growth — How have you done over recent years? Trending upward or down?...
By Wiss Associate
In last month’s post, we discussed what your company’s chart of accounts should entail and its prominence to the accounting and financial side of your organization. Now let’s see why and when you should reorganize the information that will make up your chart of accounts.
Why to Take Action
Your spotless and well-organized accounts will help your company prepare your books for the following activities:
Working with your outside accounting advisors for quick and...
By Donna Woronka
Many businesses start up so modestly that they can fit their full inventory in their garage, a slice of rented warehouse or in that dark, cobwebby storeroom in their building—and easily keep track of it via a spreadsheet. But as businesses grow and inventory expands, all that manual input catches up with them.
In the first place, spreadsheet inventory management is a laborious operation that takes key people away from what they should be doing. And manual input is...